Consumers ready to ditch PIN numbers and embrace AI: Visa research
56% of Australian consumers with debit and credit cards would rather make payments with their fingerprint, voice or retinas than punch in a PIN number at the checkout, research commissioned by Visa has shown.
YouGov collaborated with the payments provider to conduct a survey, which revealed that nearly half of respondents found “biometric” authentication appealing because they believed it was more secure at 45%, while 40% simply preferred it because they didn’t want to remember their PIN number.
Perhaps the most surprising piece of insight to gain from the survey was that 29% said they were ready to use an internet-connected device to make payments on their behalf. For instance, this could involve the household fridge or virtual assistant in the home doing the shopping.
Visa is predicting that with the introduction of connected devices and the continued growth of digital commerce, we will see infinitely more choice in how Australians pay.
“As the Internet of Things and biometric capabilities become integrated into our everyday experiences, we’ll experience a significant shift in how payments are made,” explained Group Country Manager for Visa, Stephen Karpin.
“And we’ll experience personalisation that we never thought possible, powered by artificial intelligence.”
Until that happens, credit and debit card customers can enjoy the convenience of authorising transactions at the touch of a finger through payment apps on their phones such as Apple Pay and Samsung Pay.
This week ANZ beat other big banks by finally launching Samsung Pay, meaning its cardholders can now choose to make fingerprint payments with their eligible Samsung devices or compatible Apple products via Apple Pay.
If you’re looking to upgrade your debit card to the digital version, you can compare account features offered by a range of providers (such as whether they offer Apple Pay or Samsung Pay) via Mozo’s comparison hub.